Gold posts small losses, consolidating the corrective slide. XAU bulls lack impetus amid profit-taking mood. Upside looks compelling amid coronavirus-led global economic risks. Despite the massive sell-off on Wall Street amid coronavirus and oil shock driven risk-aversion, Gold prices (XAU/USD) remain unperturbed and report marginal losses on the day, now trading around $1670 levels. The yellow metal renewed a seven-year at 1703.27 in early Asia this Monday, in response to the sharp decline seen in global equities after the rise in both the new coronavirus cases as well as the death toll across the globe sent investors scurrying up for safe-havens. However, the prices failed to hold at higher levels and corrected sharply thereafter, as investors locked-in gains after the extensive rally. Consequently, gold prices fell as low as $1657.57 but later on attempted a bounce back towards 1685 region, as the oil-price crash, in the wake of Saudi Arabia’s price war, kept the investors unnerved. Since then, the precious metal wavers in a $20 range, looking for a fresh direction, with the risks seemingly titled to the upside, as gold still remains the safest alternative in times of market panic and uncertainty. Further, expectations of a 75bps March Fed rate cut and 50bps ECB rate cut also keep the buying interest alive in the non-yielding, gold. The US Treasury yields attempt a recovery but remain heavy amid a rush to safety in the US bonds. Gold technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Norwegian Krone crashes to multi-year lows vs. dollar, euro alongside oil amid the coronavirus crisis FX Street 3 years Gold posts small losses, consolidating the corrective slide. XAU bulls lack impetus amid profit-taking mood. Upside looks compelling amid coronavirus-led global economic risks. Despite the massive sell-off on Wall Street amid coronavirus and oil shock driven risk-aversion, Gold prices (XAU/USD) remain unperturbed and report marginal losses on the day, now trading around $1670 levels. The yellow metal renewed a seven-year at 1703.27 in early Asia this Monday, in response to the sharp decline seen in global equities after the rise in both the new coronavirus cases as well as the death toll across the globe sent investors scurrying up for… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.